XAUUSD|Gold extends decline to test key support
Updated
✅Today, the European session has oscillated and retreated to the 2625 line. The downward space is expected to be limited, and there is a need for rebound correction in the short term. If the European session rebound cannot break through the 2642 line, the US session needs to continue to pay attention to the oscillation and retracement market. However, whether it can fall below 2620 and continue to fall, it is necessary to combine the real-time market changes for analysis.
✅If the 2620 line breaks, pay attention to the support of the 2618-2612 range below. Focus on whether 2612 stops falling. If it stops falling, the market will remain oscillating at the beginning of the week; if it cannot stop falling, the downward trend may continue, and further pay attention to the volatile downward trend after 2665 is suppressed.
🔴Upper resistance: 2647-2650
🟢Lower support: 2600-2603
✅Intraday Trading strategy:
🔶GOLD BUY: 2622-2625
🔰TP1: 2635
🔰TP2: 2645
🔰TP3: 2650 OPEN~
🔶GOLD SELL: 2643-2645
🔰TP1: 2630
🔰TP2: 2625
🔰TP3: 2620 OPEN~
✅Overall, gold in the Asian session rose to the long-short conversion point and then fell. It has now fallen to the acceleration line of the hourly chart, not far from the lower support. In short-term operations, it is recommended to go long in batches at 2625-2622. At the same time, the short-term operation idea recommends rebounding shorting as the main, and callback longing as the auxiliary.
Trade active
🔥PERFECT!!! GOLD SELL @ 2643-2645
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🔶GOLD BUY: 2602-2605
🔰TP1: 2615
🔰TP2: 2625
🔰TP3: 2635 OPEN~
🔶GOLD SELL: 2645-2648
🔰TP1: 2630
🔰TP2: 2625
🔰TP3: 2615 OPEN~
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